Dogecoin surges on Elon Musk’s Twitter deal

Dogecoin surged more than 70% on Saturday, extending this week’s gains after Elon Musk sealed a $44-billion deal to take over Twitter last week. The Tesla Inc CEO, a vocal proponent of cryptocurrencies, has heavily influenced prices of dogecoin and bitcoin.

Tesla started accepting dogecoin as payment for its merchandise early this year, and Musk’s newly launched perfume brand can also be bought with dogecoin.
Cryptocurrency exchange Binancewhich has invested $500 million into Musk’s buyout of Twitter, said it is brainstorming strategies on how blockchain and crypto could be helpful to Twitter.